ESB Certification Exam Study Guide 2024

One can expect their sales volume to be ______ when they are in product/market fit. [Elements of the Product/Market Fit Hypothesis] - high Product/market fit is making a product or ________ that many people want. [Elements of the Product/Market Fit Hypothesis] - service A business must provide customers with quality products to maintain customer __________. [Performance and Quality Criteria] - satisfaction A Minimum Viable Product (MVP) is a _________ used to test ease-of-use and functionality to help determine the user's experience and ultimately improve the user's experience with the product. [Performance and Quality Criteria] - prototype In which stage should one develop a value hypothesis? - Launch In which stage do sales gain momentum? - Traction In which stage is a Minimum Viable Product (MVP) created? - Prototype In what stage does one find their product/market fit? - Growth In which stage does one start to earn revenue? - Monetization In which stage does one develop a concept for a product or service? - Idea Which two aspects of a product do Minimum Viable Products (MVPs)test? - a. Ease-of-use b. Functionality Label the items as either a product or a service. Use P for product and S for service. - a. P Muffins b. S AC repairs c. P Toilet paper d. P Jewelry e. S Web designs f. P Couch g. S Guitar lessons No ownership, no US federal taxes - Non-profit